A company had the following stockholders' equity information available at year-end: - Reported 11,000 shares of $2 par common stock issued. - Reported 5,000 shares of $50 par, 6% preferred stock issued and outstanding. - Held 1,000 shares of treasury stock purchased in the previous year. - Reported net income of $200,000 for the current year. - Declared and paid the preferred stock dividend during the current year. Determine the earnings per share for the current year. Round your answer to two decimal places